How To Earn $500 A Month From Best Buy Stock After A Better-Than-Expected Q2
Portfolio Pulse from Priya Nigam
Best Buy Co Inc (NYSE:BBY) reported better-than-expected Q2 results with sales of $9.58 billion and adjusted EPS of $1.22. The company revised its fiscal year 2024 revenue guidance to $43.8 billion-$44.5 billion and expects a comparable sales decline of 4.5% to 6%. Telsey Advisory Group analyst Joseph Feldman maintains Best Buy with a Market Perform and raised the price target from $78 to $85. BBY offers an annual dividend yield of 4.78%, which is a quarterly dividend amount of $0.92 a share.
August 30, 2023 | 12:57 pm
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POSITIVE IMPACT
Best Buy's better-than-expected Q2 results and revised FY2024 revenue guidance, along with a raised price target by Telsey Advisory, could positively impact its stock. The company's attractive dividend yield may also appeal to income-focused investors.
Best Buy's strong Q2 results and revised FY2024 revenue guidance indicate a positive operational performance, which could boost investor confidence and drive the stock price up. The raised price target by Telsey Advisory further supports this potential upward movement. Additionally, the company's high dividend yield could attract income-focused investors, potentially increasing demand for the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100